Drone Service Market Research Report Analysis and Forecasts to 2027
The 2019-2027 report on Drone Service Market explores the essential factors of Drone Service Industry covering current scenario, market demand information, coverage of active companies and segmentation forecasts.
The global drone service market accounted for US$ 629.2 Mn in 2018, and is projected to grow at a CAGR of 51.1% over the forecast period 2019-2027, to reach US$ 24,882.2 Mn in 2027. The demand for drone service is largely influenced by an escalating demand of surveying, mapping & inspection; and supportive government regulations related to the adoption of drone across the world. Furthermore, the governments of the developed economies such as the US, Canada, the UK, and Germany have undertaken different initiatives to propel the growth of drone service market in through implementing new rules and regulation for flying drones across the regions. However, among the developing countries such as India, China, Saudi Arabia, South Africa, and others the adoption of drone across agriculture industry is growing with greater percentage provides a potential opportunity for the drone service market.
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The drone service providers are gaining prominence in the commercial sector owing to the fact that the end users are seeking various ways to cut down operational cost in their business. Owning a drone and maintenance of the machine involve significant cost and along with the same, the company has to hire a skilled drone operator which again incurs a huge cost. Instead of owning a drone, various companies operating in the commercial sectors are opting for third-party drone service providers which enable them to cut down cost. This factor is positively impacting on the growth of the drone service market. Industries such as real estate and infrastructure and media & entertainment have adopted the technology heavily, which have facilitated the service providers to increase their annual revenue, and thus fuel the growth of drone service market. Also, the drone service provider is experiencing significant demand for various services such as surveying, inspection, mapping and aerial photography from several other industries such as law enforcement, agriculture, and industrial among others. Law enforcement agencies across the globe have deployed drones for various activities such as surveying, inspection and securing certain areas.
By drone type in the drone service market, rotary wing segment is the leading is anticipated to continue its dominance in the market. The rotary wing drones are the most attractive unmanned aerial vehicles for commercial use, and the same is expected to dominate the drone service market over the next decade. The primary advantage of rotary wing drones is that these vehicles have the ability to VTOL (vertical takeoff and landing), thereby requiring smaller takeoff and landing area. Another ability of rotary wing drones to hover around and execute agile maneuvering eases the rotary wing drones to attract customers from several industries. The rotary wing drones are majorly deployed for applications such as precision inspection as these drones have the ability to hover in a particular region and inspect a single target for a more extended period. These capabilities have impressed the end-user industries, which has reflected the adoption rate in the drone service market.
The overall drone service market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the drone service market. It also provides the overview and forecast for the global drone service market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts, and key opinion leaders specializing in the drone service industry.
Global Drone Service market Segment by Manufacturers, this report covers- Cyberhawk Innovations Limited, Terra Drone Corporation, Sky-Futures , Measure, Aerodyne Group, Skyspecs, Airinov , Zipline, Drone Volt, Flirtey
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Table of content:
- INTRODUCTION 15
1.1 SCOPE OF THE STUDY 15
1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE 15
- KEY TAKEAWAYS 16
- DRONE SERVICE MARKET LANDSCAPE 19
3.1 MARKET OVERVIEW 19
3.2 MARKET SEGMENTATION 20
3.2.1 Global Drone Service Market – By Drone Type 21
3.2.2 Global Drone Service Market – By Service 21
3.2.3 Global Drone Service Market – By Industry 22
3.2.4 Global Drone Service Market – By Geography 22
3.3 PEST ANALYSIS 23
3.3.1 North America – PEST Analysis 23
3.3.2 Europe PEST Analysis 25
3.3.3 ASIA PACIFIC PEST Analysis 27
3.3.4 Middle East & Africa PEST Analysis 29
3.3.5 South America PEST Analysis 31
- DRONE SERVICE MARKET – KEY INDUSTRY DYNAMICS 33
4.1 KEY MARKET DRIVERS 33
4.1.1 Increasing Adoption of Drone Based Solutions in Agriculture Sector and Media Industry is Constantly Driving the Market 33
4.1.2 Rotary Wing Drones have Influenced the Drone Service Market Over the Years 34
4.2 KEY MARKET RESTRAINTS 34
4.2.1 Lack of Skilled Drone Operators in Developing Regions to Hamper the Market Growth 34
4.3 KEY MARKET OPPORTUNITIES 35
4.3.1 Rising Adoption of Drone Services in E-commerce Industry is Anticipated to Stimulate the Market Growth 35
4.4 FUTURE TRENDS 36
4.4.1 Beyond the Visual Line of Sight (BVLOS) to Accentuate the Demand for Commercial Drone Service 36
4.5 IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS 36
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